A shopper wearing a protective face mask browses luxury handbags inside a Louis Vuitton boutique in Moscow, Russia. Bloomberg | Getty Images The coronavirus pandemic has put many industries into crisis mode, and luxury retail is one of them. With fewer places to see and be seen, shoppers are slowing their spending, with an estimate
Month: August 2020
A FedEx logo on a delivery truck Jin Lee | Bloomberg | Getty Images Check out the companies making headlines in midday trading. T-Mobile — Shares of the wireless provider surged more than 8% to a new 52-week high on Friday following its better-than-expected quarterly earnings. T-Mobile earned 9 cents on revenue of $17.67 billion, compared
Uber CEO Dara Khosrowshahi walks outside of the New York Stock Exchange its highly anticipated initial public offering on May 10, 2019. Spencer Platt | Getty Images Uber just reported second quarter results including revenue that beat analysts’ expectations but declined by about 29% from $3.17 billion during the same period last year. The stock dipped
Director of the National Institute for Allergy and Infectious Diseases Dr. Anthony Fauci testifies before the US Senate Health, Education, Labor, and Pensions Committee hearing to examine COVID-19, “focusing on lessons learned to prepare for the next pandemic”, on Capitol Hill in Washington, DC on June 23, 2020. Kevin Dietsch | Pool | AFP |
Tetra Images | Getty Images Maybe you know one: the person who saves boatloads for retirement, manages to follow a budget and even has a fat emergency fund. In other words, a “super saver.” While perhaps an enviable position, it’s one that typically involves making some sacrifices, according to a report from Principal Financial Group
The Securities and Exchange Commission is investigating Eastman Kodak‘s disclosure about getting awarded a $765 million loan from the U.S. government to start producing drug ingredients, which sent the stock up on heavy volume ahead of the official announcement, the Wall Street Journal reported Tuesday. On July 27, a day before Kodak, as well as President Donald
filadendron | E+ | Getty Images Financial upheaval and uncertainty has become the norm for many Americans, thanks to the coronavirus pandemic. Millions are unemployed, and scores of companies have been impacted by the economic slowdown. With so much uncertainty, it can be difficult and even scary to think about your money, much less make
A Jos. A. Bank store location in San Francisco announces its permanent closure on Aug. 6. David Paul Morris/Bloomberg via Getty Images The unemployment rate fell for the third straight month, to 10.2% in July. That exceeded expectations, as employers added about 1.8 million jobs to their payrolls. That adds up to good news for
Motorcyclists pass a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, February 3, 2016. Olivia Harris | Reuters Goldman Sachs on Friday lowered its previously stated quarterly net earnings applicable to common shareholders to $197 million from $2.25 billion. The bank said in a filing it had set
Two of Washington’s most powerful lawmakers told CNBC they believe Congress will strike a coronaviurs relief package, although the timing is still unknown. Congress and the Trump administration have struggled to strike an aid agreement for several days, even as key relief benefits expired. While negotiations continue, markets await July’s employment data, which is expected
► Take our survey and tell us what you like about our YouTube channel and would like to see more of: https://bit.ly/33SJ8AI FT’s Leslie Hook and Camilla Hodgson discuss their investigation into air pollution on London’s Tube, the oldest subway system in the world, carrying 4.8m passengers every day. Read more at https://on.ft.com/34sWjsi ► Check
10.4 feet across at its widest point, Boston’s ‘Spite House’ is the undisputed narrowest in Beantown. Curious? It’s available for rent.
Cabania | iStock | Getty Images Plus When the U.S. government sent out urgent stimulus checks this spring, some people who had already died received money. Now it seems another ineligible group may be getting checks: foreign workers. Reports surfaced this week that a number of those recipients are now living in their home countries.
Source: Quicken Loans Rocket Companies, the parent of U.S. mortgage lender Quicken Loans, said its initial public offering (IPO) was priced at $18 per share on Wednesday, below a target range, and that it sold fewer shares than planned. Rocket sold 100 million shares to raise $1.8 billion in the IPO, which valued the company
In this screengrab taken from a berniesanders.com webcast, Democratic presidential candidate Sen. Bernie Sanders (I-VT) talks about his plan to deal with the coronavirus pandemic on March 17, 2020 in Washington, D.C. Businesses are being severely impacted, schools are closing temporarily and large events are being postponed as the COVID-19 virus continues to spread across
Getty Images Financial technology start-ups in most of the world raised more money in the second quarter than they did in the first three months of the year, but deal activity remained on a decline, according to a new report from CB Insights. Fintech funding rose 17% on-quarter from $7.9 billion to $9.3 billion, according to
2021 Toyota Sienna models Toyota Toyota Motor eked out its smallest quarterly profit in nine years as the coronavirus pandemic halved its car sales and nearly wiped out its bottom line. However, shares in Japan’s top automaker rose 2.3% in a weaker broader market as analysts had expected a loss, while comments from a company
Cadillac Lyriq show car GM General Motors unveiled the Cadillac Lyriq crossover Thursday night as the “next chapter” for the American luxury brand and a “technology spearhead” for the automaker. The Lyriq is the first to debut with the automaker’s next-generation batteries and EV architecture. GM executives believe the technologies will rival, if not outperform,
Three more proposals for federal stimulus are being discussed in Congress: The HEROES Act, the HEALS Act and the Coronavirus Assistance for American Families Act. While all three bills have some things in common — each would, for example, deliver a second round of checks to Americans — there are also some key differences. Like
Goldman Sachs is renewing its push into Wall Street’s digital future. The firm made Mathew McDermott, a managing director who ran the investment bank’s internal funding operations, its new global head of digital assets last month, CNBC has learned exclusively. The appointment means the newest face of blockchain and cryptocurrency on Wall Street isn’t a
If you have debt, forget spending on things like fancy coffee drinks, says “Shark Tank” star Kevin O’Leary. That’s because paying off debt is “key” to financial success, he says. “If you have student loans, if you have debt, if you have things that you’re paying interest on, you have to pay those off first,” O’Leary
Take a look at some of the biggest movers in the premarket: Hilton Worldwide (HLT) – The hotel operator lost 61 cents per share for the second quarter, wider than the 31 cents a share loss that Wall Street analysts had been anticipating. Revenue was also below estimates, with Hilton suffering from the pandemic-induced drop
Travelers order food in automated self-ordering kiosk at fast-food Burger King restaurant chain. Bundrul Chukrut | LightRocket | Getty Images Restaurant Brands International on Thursday reported that its quarterly revenue plunged 25% as the coronavirus pandemic weighed on same-store sales at Burger King and Tim Hortons. But Popeyes, powered by its popular chicken sandwich, reported same-store
U.S. President Donald Trump addresses a coronavirus disease (COVID-19) pandemic briefing in the Brady Press Briefing Room of the White House in Washington, U.S., August 5, 2020. Joshua Roberts | Reuters President Donald Trump will sign an executive order requiring the U.S. government to buy “essential” drugs from American companies, White House trade advisor Peter Navarro
House managers can be critical to the smooth running of their employer’s life, home and staff. Emma Jacobs looks at how these domestic professionals support the wealthy. Credits Filmed by Steve Ager, Nicola Stansfield, Petros Gioumpasis. Additional material: Getty. Graphics and animations by Russell Birkett. Edited by Nick Swinglehurst and Seb Morton-Clark. Produced by Nalini
Get a rare look at the entire process of how rocks are turned into magnificent sparkling diamonds in the hands of experienced craftsmen.
Getty Images Some Americans who qualified for stimulus checks received an unwelcome surprise when the $500 payments for their children under 17 were not included. Starting today, the U.S. government plans to send out the missing cash. That applies to those individuals and couples who are not required to file a tax return and used
Nikola Motor Company Source: Nikola Motor Company Nikola’s entire second quarter revenue of $36,000 was related to solar installations for Executive Chairman Trevor Milton, according to a filing with the Securities and Exchange Commission. “During the three months ended June 30, 2020 and 2019 the Company recorded solar revenues of $0.03 million and $0.04 million,
Amazon Founder and CEO Jeff Bezos speaks to the media on the company’s sustainability efforts in Washington on September 19, 2019. Eric Baradat | AFP | Getty Images Amazon CEO Jeff Bezos this week has sold more than $3.1 billion worth of shares in his company, according to filings with the Securities and Exchange Commission
The building of DBS, Singapore’s largest bank, at the city state’s central business district. Suhaimi Abdullah | Getty Images News | Getty Images DBS Group Holdings, the largest bank in Singapore and Southeast Asia, reported a 22% fall in second-quarter net profit compared to a year ago as it set aside more money for loan